Unlike firms in perfect competition, monopolists have control over
a. the costs of production
b. what technology to use
c. what price to charge
d. how much to produce
e. the choice of plant size
C
Economics
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Every necessity is a normal good, but not all normal goods are necessities.
Answer the following statement true (T) or false (F)
Economics
Economists assume that business firms attempt to maximize their profits.
Answer the following statement true (T) or false (F)
Economics
Income is considered to be a
A) nontaxable stream of funds. B) flow. C) stock. D) resource.
Economics
Under which of the following assumption can activist policies have sizable effects on aggregate demand?
A. infrequent information updates B. rational inattention C. habit formation among people D. all of these
Economics